Hertz reports loss in 1Q

  • Hertz Global Holdings Inc.
    Hertz Global Holdings Inc.
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ESTERO, Fla. (AP) – Hertz Global Holdings Inc. (HTZ) on Monday reported a loss of $356 million in its first quarter.

The Estero, Florida-based company said it had a loss of $2.50 per share. Losses, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.78 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.06 per share.

The car rental company posted revenue of $1.92 billion in the period.

In the final minutes of trading on Monday, the company’s shares hit $3.19. A year ago, they were trading at $17.81.